The relationship between Human Resource Management (HRM) and firm performance has been a hotly debated topic over the last decade, especially in the United States (e.g. Osterman, 1994; Huselid, 1995; MacDuffie, 1995). The question arises whether the domination of USA oriented models, however appropriate...

To fully understand the relationship between human resource management and performance in different contexts, we are in need of a synthesis between resource-based theory and new institutionalism. We argue that differences in institutional settings (between for example countries or branches of...